Telefonica plans to set up a unit selling electronic books in partnership with German media corporation Bertelsmann and Spanish book publisher Grupo Planeta. The unit would compete with Amazon.com in Latin America, local newspaper Expansion reports, without citing sources.

Telefonica will supply the technology platform and likely take a 50 percent stake while Bertelsmann and Planeta, through their joint venture Circulo de Lectores, will supply the content and own the rest of the business, Bloomberg reports.